By Andrew Ede
According to the Tax Agency's most recent figures - for 2021 - 427 residents of the Balearics declared salaries of 50,000 euros per month or more.
Predominantly business executives and elite athletes, the 427 represented 0.07% of all income declarations in 2021, a fractionally higher percentage than for the whole of Spain - 0.06%. They will now benefit from a Balearic government 0.25% reduction in income tax for earnings of 30,000 euros and more per annum.
By contrast with this small high-earning group, the second most common salary range in the Balearics in 2021 was between 12,000 and 21,000 euros per year - 147,068 people.
The third most common (103,583 people) was 30,000 to 60,000 euros per year. Fourth was 21,000 to 30,000 euros - 91,844 residents.
But there were also 198,343 people, including 30,435 who earned less than 1,500 euros, whose income was below 12,000 euros.
August 8, 2023 at 12:21PM
via Mallorca Daily Bulletin read more...
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